Idaho Trust Co., of Coeur dAlene, is reaching out to opposite ends of the investing spectrum with two recent moves, one targeting the very wealthy and the other, the trying-to-become wealthy.


In the latter case, the independent trust company recently acquired the assets of Boise-based Premier Financial Group LLP, a registered financial adviser business. That will allow it to offer brokerage-style accounts to clients who dont meet the minimum account size required for its trust services, says Idaho Trust President Tom Prohaska.


The transaction boosted The Coeur dAlene companys assets under management by $35 million, to about $265 million, Prohaska says.


Idaho Trust has hired Premier Financials three employees, giving it four employees in Boise, Prohaska says.


Idaho Trust created Idaho Trust Investments LLC, a new unit of its Coeur dAlene trust business, to serve smaller clients, Prohaska says. The acquisition allows us to take on new clients that then can grow into more of a trust-banking relationship, Prohaska says. Idaho Trusts minimum account size for trust services is $250,000, while accounts in the new unit can be started with less than that, he says.


In a separate move, Idaho Trust in December opened a branch office in Tacoma, Wash., to serve high net-worth families in that part of the Puget Sound, Prohaska says. Clients targeted by that one-person office have a net worth of $50 million or more, he says.


We opened the office at the time we took over some client relationships in that area, he says.


Idaho Trust, which was founded in 1994, has grown rapidly in the past two years, Prohaska says. The companys assets under management have more than tripled during that time


Prohaska credits word-of-mouth referrals, plus the natural maturation of our institution, for the companys growth.


The company, whose headquarters are at 608 Northwest Blvd., employs a total of about 20 people.